Newcastle United takeover won’t happen before season kicks off but confident- Report
Another summer where the Newcastle United takeover is dominating the agenda.
Summer 2020 ended in desperate disappointment as the takeover failed to happen, the Saudi financed consortium pulling out after the Premier League had prevaricated for 17 weeks without coming to a decision on whether to pass the change of ownership.
Will summer 2021 bring a different and more welcome outcome?
This time we know that arbitration between Mike Ashley / Newcastle United and the Premier League is happening this month, though not exact dates. The president of CAT (Competitions Appeal Tribunal) letting this news (of arbitration hearing in July 2021) slip out, CAT dealing with a separate Mike Ashley action involving the proposed Newcastle United takeover.
That 17 week wait last summer before the devastating announcement came through, was a shocker, whilst this current waiting for news is just more of the same.
Newcastle fans happy to wait just so long as their is a positive conclusion, though dreading the implications of what another Newcastle United takeover knockback would mean.
Only four weeks to the new season and Mike Ashley having refused to allow any spending on new signing so far. With widespread media reporting that so long as he remains, there won’t be any ambition shown in the transfer market. Loans and frees the most likely, if Newcastle do indeed sign anybody.
Now a new report from The Independent says that their sources close to the Newcastle United takeover are fully confident that the deal is going to happen this time.
However, they believe realistically that this now won’t happen before the season kicks off in four weeks time BUT do retain some hope that they will be able to make some impact in this transfer window, with that not closing until two and a half weeks after the start of the season.
The Independent report that after the evidence has been heard in this month’s arbitration case, the arbitration panel can release a verdict relatively quickly. They say that in cases such as this that fall under the umbrella of ‘expedited arbitration’, an award ‘can be written and issued in just two weeks.’
However, despite that carrot of hope, The Independent say that at the same time the Saudi financed bidders worry that the judgement will take a lot longer than that.
Newcastle fans as always, left in the dark and hoping for the best but fearing the worst.
On the positive side of things, we know that the Newcastle United takeover is all agreed between Mike Ashley and the potential new owners, plus we also know that both parties are keen for the deal to happen as soon as possible.
If it does reach a point where the Premier League accepts that it can no longer prevent the Newcastle United takeover happening, you would surely think they would then allow it to be completed ASAP. Especially when you take into account where they got to last summer before the process ground to a halt.
After 14 years of Mike Ashley the Newcastle fans are used to waiting for good news but it would be such a massive lift if this Newcastle United takeover was allowed through, whilst the sun is still shining over Tyneside.
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